Benjamin Edwards Inc. cut its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 53.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,233 shares of the coffee company's stock after selling 48,466 shares during the quarter. Benjamin Edwards Inc.'s holdings in Starbucks were worth $4,316,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Capital World Investors increased its stake in shares of Starbucks by 9.0% in the 4th quarter. Capital World Investors now owns 84,727,405 shares of the coffee company's stock worth $7,135,228,000 after acquiring an additional 7,007,268 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Starbucks in the second quarter worth $8,504,509,000. State Street Corp increased its stake in Starbucks by 0.7% during the 4th quarter. State Street Corp now owns 47,869,056 shares of the coffee company's stock valued at $4,031,053,000 after purchasing an additional 327,161 shares in the last quarter. Geode Capital Management LLC raised its holdings in Starbucks by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 26,373,084 shares of the coffee company's stock worth $2,212,153,000 after acquiring an additional 225,168 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Starbucks by 65.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 19,447,854 shares of the coffee company's stock worth $1,637,704,000 after purchasing an additional 7,725,547 shares in the last quarter. Institutional investors own 72.29% of the company's stock.
Insider Buying and Selling
In other Starbucks news, CEO Brady Brewer sold 2,229 shares of Starbucks stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.99, for a total value of $236,251.71. Following the sale, the chief executive officer owned 75,135 shares of the company's stock, valued at $7,963,558.65. The trade was a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,687 shares of company stock worth $681,663 over the last three months. 0.03% of the stock is currently owned by corporate insiders.
Starbucks Stock Performance
SBUX stock opened at $107.85 on Monday. The company's fifty day moving average price is $105.10 and its 200-day moving average price is $100.79. Starbucks Corporation has a one year low of $77.99 and a one year high of $110.51. The company has a market capitalization of $122.95 billion, a PE ratio of 61.98, a price-to-earnings-growth ratio of 1.86 and a beta of 0.97.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The coffee company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.19. The company had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.17 billion. Starbucks had a net margin of 5.17% and a negative return on equity of 34.10%. Starbucks's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. On average, research analysts predict that Starbucks Corporation will post 2.64 EPS for the current fiscal year.
Starbucks Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, August 14th. Starbucks's payout ratio is currently 142.53%.
Analyst Ratings Changes
A number of brokerages have recently commented on SBUX. BMO Capital Markets reiterated an "outperform" rating and issued a $130.00 price target on shares of Starbucks in a research note on Thursday, July 30th. Jefferies Financial Group started coverage on Starbucks in a research report on Thursday, May 14th. They issued a "buy" rating for the company. UBS Group raised their price objective on Starbucks from $105.00 to $112.00 and gave the stock a "neutral" rating in a research note on Thursday, July 30th. TD Cowen reaffirmed a "buy" rating on shares of Starbucks in a research report on Tuesday, August 18th. Finally, Compass Point initiated coverage on Starbucks in a research note on Monday, August 3rd. They set a "buy" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $110.30.
Check Out Our Latest Stock Analysis on SBUX
Starbucks Profile
(
Free Report)
Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.
Starbucks' core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.
Further Reading
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